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Mueller Water Products, Inc.'s (NYSE:MWA) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Mueller Water Products, Inc.'s (NYSE:MWA) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
It is hard to get excited after looking at Mueller Water Products' (NYSE:MWA) recent performance, when its stock has declined 11% over the past three months. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Mueller Water Products' ROE.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
View our latest analysis for Mueller Water Products
How Is ROE Calculated?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Mueller Water Products is:
12% = US$88m ÷ US$704m (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
What Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
Mueller Water Products' Earnings Growth And 12% ROE
At first glance, Mueller Water Products seems to have a decent ROE. Even when compared to the industry average of 13% the company's ROE looks quite decent. Given the circumstances, we can't help but wonder why Mueller Water Products saw little to no growth in the past five years. We reckon that there could be some other factors at play here that's limiting the company's growth. For example, it could be that the company has a high payout ratio or the business has allocated capital poorly, for instance.
As a next step, we compared Mueller Water Products' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 8.4% in the same period.
NYSE:MWA Past Earnings Growth September 5th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. Is MWA fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is Mueller Water Products Efficiently Re-investing Its Profits?
Despite having a moderate three-year median payout ratio of 45% (meaning the company retains55% of profits) in the last three-year period, Mueller Water Products' earnings growth was more or les flat. So there could be some other explanation in that regard. For instance, the company's business may be deteriorating.
Additionally, Mueller Water Products has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 32% over the next three years.
Summary
In total, it does look like Mueller Water Products has some positive aspects to its business. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return and is reinvesting ma huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
在看到Mueller Water Products(纽约证券交易所代码:MWA)最近的表现后,很难感到兴奋,因为它的股票在过去三个月里下跌了11%。然而,股价通常是由公司的长期财务状况推动的,在这种情况下,财务状况看起来相当不错。在本文中,我们决定将重点放在Mueller Water Products的ROE上。
股本回报率或净资产收益率是股东要考虑的一个重要因素,因为它告诉他们他们的资本再投资的效率。换句话说,这是一个衡量公司股东提供的资本回报率的盈利比率。
查看我们对米勒水务产品的最新分析
净资产收益率是如何计算的?
这个股本回报率公式是:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,Mueller Water Products的净资产收益率为:
12%=8800万美元×7.04亿美元(基于截至2022年6月的12个月)。
“报税表”是过去12个月的税后收入。这意味着,股东权益每增加1美元,公司就会产生0.12美元的利润。
净资产收益率与盈利增长之间有什么关系?
到目前为止,我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长,这就让我们对公司的增长潜力有了一个了解。一般来说,在其他条件相同的情况下,股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
米勒水务的收益增长和12%的净资产收益率
乍一看,Mueller Water Products似乎拥有不错的净资产回报率。即使与13%的行业平均水平相比,该公司的净资产收益率看起来也相当不错。在这种情况下,我们不禁要问,为什么米勒水务在过去五年里几乎没有增长。我们认为,可能还有一些其他因素在发挥作用,限制了公司的增长。例如,可能是公司的派息率很高,或者企业的资本配置不当。
作为下一步,我们将米勒水产品的净收入增长与行业进行了比较,失望地看到该公司的增长低于同期8.4%的行业平均增长。
纽约证券交易所:MWA过去的收益增长2022年9月5日赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。投资者下一步需要确定的是,预期的收益增长是否已经计入了股价。这有助于他们确定这只股票是为光明还是黯淡的未来做准备。MWA的价值是否公平?这张关于公司内在价值的信息图包含了你需要知道的一切。
Mueller Water Products是否有效地将其利润进行了再投资?
尽管米勒水务过去三年的中值派息率为45%(这意味着该公司保留了55%的利润),但该公司的收益增长或多或少持平。因此,在这方面可能有一些其他的解释。例如,该公司的业务可能正在恶化。
此外,Mueller Water Products在至少十年的时间里支付了股息,这意味着公司管理层决心支付股息,即使这意味着收益几乎没有增长。分析师现有的预估显示,该公司未来三年的派息率预计将降至32%。
摘要
总体而言,看起来Mueller Water Products确实有一些积极的业务方面。然而,低收益增长有点令人担忧,特别是考虑到该公司拥有高回报率,并将大部分利润进行再投资。从表面上看,可能还有其他一些因素正在阻碍增长,这些因素并不一定是控制企业的因素。既然如此,最新的分析师预测显示,该公司的收益将继续增长。要了解更多有关该公司未来收益增长预测的信息,请查看以下内容免费报告分析师对该公司的预测,以了解更多信息。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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